2512 replies to this topic

[dougie]

 

Bearish count is still a possibility?

always. dont think we get near that low though

[Russ]

Strong crossover on the weekly slow stochastic.  I took profits on my long just before the close, it may pullback a bit next week, nugt closed it's gap and there is some strong overhead resistance there. 

 

 

Edited by Russ, 01 April 2021 - 09:29 PM.

[gannman]

i believe we are going to have a big week in this sector for what its worth i will be buying 

 

more mutual fund stuff

[gannman]

and one thing is for sure i will not be selling any physical i am holding on to all 

 

my stuff there is a good chance imo that sometime within the next year problems 

 

start to surface and gold and silver will be safe havens 

[K Wave]

Pesavento sold all his gold and silver. He thinks the rally was just short covering because he sees no expansion in open interest? DYOD.

Next few days may tell whether he is right or wrong on that call.

 

I see both possibilities pretty clearly here....now we wait for price action to tell whether or not Silver can reclaim and Hold 25, and GLD can reclaim and Hold 162.

 

GLD chart looks potentially IT bottomish now....pretty big positive momo divergence on the retest low...but maintaining price above 162 is a requirement now....

 

 

 

GDX looks potentnially even more bottomish...4 hour momo already back up through zero, also after a nice divergence on the secondary low.

 

As long as it does not immediately break back down though 32, long with a stop at 32 is the low risk bet here...although it really needs to take out the 8 month long downtrend line to seal the deal...

If bulls manage to take it higher next week, then bull train is likely leaving the station....

 

Good news is should not have to wait very long to find out. If it it is going to break back down, would likely be within next day or 2.

 

[K Wave]

Looks like thus far just a back test of $25 on Silver...

 

Could still be a sharp drop ahead if bulls cannot reclaim that level soon....

 

If bulls can hold 24.50 area on the overnight pullback, then still some hope for tomorrow....but if not, possible ugly day tomorrow after backtest....

[K Wave]

Bulls held Silver where they needed to overnight...now we see if they can reclaim $25.....

[K Wave]

another failure at $25....

 

likely getting real close to decision time now....

[gannman]

i am looking at the hui to me it looks impulsive off of the low

 

on the 30 . so i want to see impulsive action here to the upside 

 

i like the fact that nem is acting strong we will see here 

[linrom1]

I actually don't like how precious metals stocks are behaving. The real money in gold is in futures and retail traders of metal stocks are telling gold that they're smarter than Mr. Market and futures traders?

 

In contrast when energy stocks were coming off the bottom, there was a very long period when price of oil just kept getting bid up and XLE just stayed flat.

Edited by linrom1, 05 April 2021 - 09:17 AM.